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The President of the Oil Industry and Trade Association (KATI) Sheikh Umer Rehan has warned about the acute shortage of essential commodities and warned that if banks do not open up for letters of credit (LCs), the country may face a severe crisis of ghee and cooking oil. import of necessary materials, reports 24NewsH DTV.
In a statement on Wednesday, Sheikh Rehan said that banks are not clearing documents for goods being unloaded at the port, raising fears of a 20 to 30-day oil and cooking oil crisis in the country.
Expressing concern, he said that the situation is threatening, but the government is not paying attention to this issue.
He emphasized that while we consume 4 million tons of products a year, only 400,000 tons are produced in the country.
He urged the Prime Minister and the Finance Minister to take immediate measures to avert the crisis as the consumption of edible oil will increase as the holy month of Ramadan approaches.
Reporter: Habib Khan